NEW YORK, Nov. 26, 2019 /PRNewswire/ -- iStar Inc. (NYSE: STAR) (the "Company") announced today that it has agreed to sell $100 million aggregate principal amount of its 4.75% Senior Unsecured Notes due October 2024 at a price of 102%. The sales price represents a yield to maturity of 4.29%. The notes offered will be issued as additional notes under the indenture pursuant to which the Company previously issued $675 million aggregate principal amount of its 4.75% Senior Unsecured Notes due October 2024 on September 16, 2019. The closing of the offering of the senior unsecured notes is expected to occur on November 29, 2019, subject to customary conditions. The Company intends to use the net proceeds of the offering for general corporate purposes.

J.P. Morgan, BofA Securities, Barclays, Morgan Stanley, and Goldman Sachs & Co. LLC are the joint book-running managers for the offering. The notes will be issued pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (the "SEC").

This press release does not constitute an offer to sell or the solicitation of an offer to buy the offered notes, nor shall there be any sale of the notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

The notes will be offered by means of the preliminary prospectus supplement and accompanying prospectus for the offering. Electronic copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained for free by searching the SEC online database (EDGAR) on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained by contacting the joint book-running managers at the following addresses or telephone numbers:

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SOURCE iStar Inc.

Jason Fooks, Senior Vice President of Investor Relations & Marketing, T 212.930.9400, investors@istar.com